Self Reliance Ny Federal Credit Union Mortgage Rates, Fees & Info

New York, NY

LEI: 549300R22XCNNGVXRO22

Tax ID: 13-5617009

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Self Reliance Ny Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Self Reliance Ny Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Trenton, and Kingston among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Self Reliance Ny Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Self Reliance Ny Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.10% 3/28/24
30 Year Cash-out Refi 4.80% 3/28/24
15 Year Conventional Purchase 5.38% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Self Reliance Ny Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Self Reliance Ny Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

117

Origination Dollar Volume (All Markets)

$68,215,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 108 $64,130,000 $593,796 $4,432 4.21%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $1,615,000 $538,333 $0 4.64%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $1,620 4.05%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $615,000 $615,000 $6,004 3.35%
Outside of Metro Areas 1 $305,000 $305,000 $5,124 3.30%
KINGSTON, NY (FHA|USDA|VA) 2 $290,000 $145,000 $4,135 3.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,840 3.50%
Self Reliance Ny Federal Credit Union's top markets include New York, Philadelphia, Miami, Trenton, and Kingston among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SELF RELIANCE NY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $68,215,000 $583,034 $4,419 4.20%

    For 2019, Self Reliance Ny Federal Credit Union's most frequently originated type of loan was Conventional, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 71 $46,955,000 $661,338 $4,413 4.23%
    Home Purchase 46 $21,260,000 $462,174 $4,425 4.15%

    For 2019, Self Reliance Ny Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 71 originations. The 2nd most popular reason was Home Purchase, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 60 $42,150,000 $702,500 $1,893 4.55%
    Other 39 $18,745,000 $480,641 $4,528 4.01%
    15 Year 11 $3,595,000 $326,818 $5,126 3.39%
    30 Year 6 $3,380,000 $563,333 $4,627 3.32%
    20 Year 1 $345,000 $345,000 $6,862 4.05%

    For 2019, Self Reliance Ny Federal Credit Union's most frequently cited loan duration was 10 Year, with 60 originations. The 2nd most popular length was Other, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 58 $24,610,000 $424,310

    Self Reliance Ny Federal Credit Union's average total fees were $4,627, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 58 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 68 $43,150,000 $634,559
    3-4% 40 $17,160,000 $429,000
    5-6% 8 $7,520,000 $940,000
    2.5-3% 1 $385,000 $385,000

    During 2019, Self Reliance Ny Federal Credit Union's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $11,025,000 $297,973 $4,404 3.85%
    $400k-600k 28 $13,770,000 $491,786 $4,563 4.34%
    $600k-1MM 26 $18,210,000 $700,385 $5,500 4.43%
    $1MM+ 16 $23,720,000 $1,482,500 $2,862 4.48%
    $100k-200k 10 $1,490,000 $149,000 $4,225 3.98%

    2019 saw Self Reliance Ny Federal Credit Union place emphasis on $200k-400k loans with 37 originations, totaling $11,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $8,935,000 $425,476 $5,513 3.80%
    $150k-250k 12 $5,330,000 $444,167 $4,799 3.91%
    $250k+ 11 $5,155,000 $468,636 $4,484 3.88%
    $75k-100k 8 $2,290,000 $286,250 $4,745 3.67%
    $50k or less 5 $1,115,000 $223,000 $3,527 4.49%
    $50k-75k 3 $905,000 $301,667 $953 3.77%

    Self Reliance Ny Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 19 $6,195,000 $326,053 $3,985 3.83%
    20-30% 11 $4,205,000 $382,273 $5,000 3.82%
    >60% 10 $4,370,000 $437,000 $3,789 3.67%
    30-36% 10 $4,720,000 $472,000 $5,483 3.99%
    50-60% 4 $1,730,000 $432,500 $5,964 4.42%
    39% 2 $1,510,000 $755,000 $3,326 4.20%
    37% 2 $870,000 $435,000 $8,695 4.14%
    42% 1 $325,000 $325,000 $6,187 4.25%
    44% 1 $205,000 $205,000 $6,258 3.60%
    47% 1 $255,000 $255,000 $0 4.15%

    Self Reliance Ny Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 19 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 52 $40,670,000 $782,115 $2,738 4.52%
    White 65 $27,545,000 $423,769 $4,688 3.94%

    Approval Rates

    Total approvals of all applications
    99.24%

    Self Reliance Ny Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.89%

    Self Reliance Ny Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 117 $68,215,000 $583,034

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $15,190,000 $949,375
    Single Family (1-4 Units):Site-Built 101 $53,025,000 $525,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $8,895,000 $523,235 $4,953 4.15%
    40-60% 31 $15,975,000 $515,323 $4,658 4.19%
    60-80% 60 $40,420,000 $673,667 $4,164 4.23%
    80-100% 6 $1,850,000 $308,333 $4,584 3.95%
    Under 20% 3 $1,075,000 $358,333 $2,943 4.35%